Authorization for the Organization and Operation of Peibo Fintech, S.A.P.I. de C.V., Electronic Payment Funds Institution — SHCP — MX

DOF: 23/09/2022

OFFICE DOCUMENT through which authorization is granted for the organization and operation of an electronic payment funds institution to be named Peibo Fintech, S.A.P.I. de C.V., Electronic Payment Funds Institution.

At the margin, a seal with the National Coat of Arms, which reads: United Mexican States.- TREASURY.- Ministry of Finance and Public Credit.- National Banking and Securities Commission.- Vice Presidency of Regulation.- General Directorate of Special Authorizations.- Technical Vice Presidency.- Office No.: 311-21134196/ 2022.

Subject:

Authorization for the organization and operation of an

electronic payment funds institution to be named

Peibo Fintech, S.A.P.I. de C.V., Electronic Payment

Funds Institution.

Peibo Fintech, S.A.P.I. de C.V .

Adolfo López Mateos, No. 274, Floor 1

Altavista Neighborhood, Postal Code 01060,

Álvaro Obregón, Mexico City.

TO:

C. SANDRA LUCERO CALZADA VARGAS

Legal Representative

In terms of articles 1 and 2 of the Law of the National Banking and Securities Commission, this National Banking and Securities Commission (Commission) is a decentralized body of the Ministry of Finance and Public Credit, whose object is to supervise and regulate, within its competence, the entities that are part of the Mexican financial system, in order to ensure their stability and proper functioning, as well as to maintain and foster the healthy and balanced development of said system as a whole, in protection of the interests of the public. Pursuant to article 4, fractions XI and XXXVIII of said law, the Commission is responsible for authorizing the constitution and operation of those entities specified by the laws, as well as exercising the other powers attributed to it by the Law of the National Banking and Securities Commission.

In that order of ideas, article 35 of the Law for the Regulation of Financial Technology Institutions establishes that persons who intend to carry out the activities attributed to collective financing institutions or electronic payment funds institutions must request their authorization as a financial technology institution before the Commission, which will grant it when, in its judgment, the legal and regulatory requirements are adequately met, prior to agreement of the Interinstitutional Committee referred to in said article 35.

Considering the above, with a written submission presented on August 09, 2021, Peibo Fintech, S.A.P.I. de C.V. (Peibo or the company) requested authorization from the Commission to organize and operate an Electronic Payment Funds Institution to be named Peibo Fintech, S.A.P.I. de C.V., Electronic Payment Funds Institution, attaching the corresponding supporting information and documentation indicated in article 39 of the Law for the Regulation of Financial Technology Institutions.

In terms of article 5, second paragraph of the Law for the Regulation of Financial Technology Institutions, this Commission warned Peibo within the term established in said law to address various observations regarding its authorization request, in addition to granting it an extension of the initial term to address them.

In relation to the above, Peibo submitted documentation and information in order to respond to the aforementioned warning. Additionally, this authority required Peibo to provide various complementary documentation and information in order to have sufficient elements of judgment to resolve on the authorization request presented by Peibo; the company attended to the request for complementary information and sent updated documentation and information regarding its file. The company requested an extension of the resolution term and an extension for the discharge, which were granted.

Having stated the above, you are informed that the Interinstitutional Committee in a session held on September 14, 2022, based on articles 11 and 35, in relation to article 22 of the Law for the Regulation of Financial Technology Institutions, and

CONSIDERING

FIRST.- That the documentation and information presented in connection with the authorization request for the organization and operation of the electronic payment funds institution to be named Peibo Fintech, S.A.P.I. de C.V., Electronic Payment Funds Institution, complies with the requirements provided in article 22, in relation to article 39 of the Law for the Regulation of Financial Technology Institutions and with articles 3, 4 and 6 of the General Provisions applicable to Financial Technology Institutions, and,

SECOND.- That from the analysis of the documentation and information received, it was concluded that from the legal, financial and operational point of view, it is appropriate to grant the requested authorization, therefore, in accordance with the certification of the Secretary of the Interinstitutional Committee, which is transcribed in the relevant part, the following was adopted:

AGREEMENT

" FIRST.- The members of the Interinstitutional Committee, in accordance with articles 11 and 35, in relation to article 22 of the Law for the Regulation of Financial Technology Institutions, unanimously agreed to grant the authorization for the organization and operation of an electronic payment funds institution to be named Peibo Fintech, S.A.P.I. de C.V., Electronic Payment Funds Institution. " .

The aforementioned agreement is adopted without prejudice to the other authorizations that, in connection with the described act, must be obtained from the Commission or any other financial authority, in terms of the applicable provisions, as well as the exercise of the powers attributed to the Commission itself during the organization process of Peibo Fintech, S.A.P.I. de C.V., Electronic Payment Funds Institution, in which the applicable requirements for the start of operations must be met.

For the above, this National Banking and Securities Commission, prior to the agreement of the Interinstitutional Committee, authorizes the organization and operation of an electronic payment funds institution to Peibo Fintech, S.A.P.I.

de C.V., Electronic Payment Funds Institution.

The entity whose organization and operation is authorized will be subject to the following:

BASES

FIRST.

The name of the company will be Peibo Fintech, S.A.P.I. de C.V., Electronic Payment

Funds Institution.

SECOND.

It will have its social domicile in Mexico City.

THIRD.

Its duration will be indefinite.

FOURTH.

The amount of its initial social capital will be $11 ' 000,000.00 (eleven million pesos 00/ 100 M.N.).

FIFTH.

Its corporate object will correspond to the realization of all activities in national currency

contemplated in article 22 of the Law for the Regulation of Technology

Financial Institutions. Additionally, it may carry out the activities provided for in article 25 of the

legal instrument mentioned above, in accordance with its corporate object.

SIXTH.

The authorization referred to in this office document is, by its very nature,

intransmissible.

SEVENTH.

Peibo Fintech, S.A.P.I. de C.V., Electronic Payment Funds Institution will be subject to the

supervision of the National Banking and Securities Commission and the Bank of Mexico, in the

exercise of their respective attributions, as well as, of the other competent financial authorities

in terms established by the laws and provisions emanating from them.

EIGHTH.

The services consisting of the issuance, administration, redemption and transmission of funds

electronic payment that Peibo Fintech, S.A.P.I. de C.V., Electronic Payment

Funds Institution provides by virtue of the present authorization, as well as the other operations

that it carries out, as well as its organization and operation in general, will be subject to the Law

for the Regulation of Financial Technology Institutions, to the rules and provisions of

general character applicable to Financial Technology Institutions issued by the

National Banking and Securities Commission, to the provisions regarding its

operations issued by the Bank of Mexico and to the provisions jointly issued by the

National Banking and Securities Commission and the Bank of Mexico, and to the other

valid norms and provisions and those that are issued in the future by any competent

authority, including those related to operations with resources of illicit origin and

terrorism financing, which by their nature are applicable.

Peibo Fintech, S.A.P.I. de C.V., Electronic Payment Funds Institution, must prove to this

Commission, at least thirty business days in advance of the start of its operations, the compliance with the

requirements established in article 40 of the Law for the Regulation of Financial Technology Institutions.

This is issued based on the legal provisions previously invoked, as well as in exercise

of the powers conferred in articles 1, 2, 4, fractions XI and XXXVIII, 10, fractions III and V of the Law of

the National Banking and Securities Commission, as well as articles 1, 3, fractions IV and V, 4, fractions I,

sections A and B, and II, section A, numeral 5) and section B, numeral 32), 14, 17, 45, fraction I and 64, third

paragraph of the Internal Regulations of the National Banking and Securities Commission, published in the Official Journal

of the Federation on February 28, 2022.

Respectfully,

Mexico City, September 15, 2022. - General Director of Special Authorizations, Lic.

José Antonio Vizcaíno Ruiz .- Rubric.- Technical Vice President, Lic. Ramiro Edgar Álvarez Hernández .-

Rubric.

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